Dhaka: Bangladesh will be free from poverty by 2024, well ahead of the global target of 2030, as the country is moving ahead fast on economic front, says Finance Minister AMA Muhith.

‘I believe we’ll get out of poverty by 2024 instead of 2030,’ he told a seminar on Sunday organised by Metropolitan Chamber of Commerce and Industry (MCCI) at its conference room in Dhaka, reports UNB.

Taking part in discussion of the seminar, business leaders and economists called on the government to play a proactive role by introducing incentives for ‘green industries’ and arrange low-cost funding to support sustainable development.

Responding to the call, the Finance Minister said the industrialists should pay more tax to enhance the government's financial capacity so that it could finance large environmental infrastructure projects like ETP for industries. ‘You should pay more revenue to the government,’ he told the entrepreneurs.

The seminar, titled ‘Promoting Green Industrial Policy of Bangladesh: Opportunities and Challenges’, was held with MCCI president Syed Nasim Manzur in the chair.

It was addressed, among others, Industries Secretary Mosharraf Hossain Bhuiyan, BCAS executive director A Atiq Rahman, former BGMEA President Kutubuddin Ahmed, Bangladesh Bank general manager Monoj Kumar Biswas, Bangladesh Solar and Renewable Energy Vice president Munawar Moin, Trust Bank deputy managing director Zakir Hossain, Bay Footwear Factory managing director Ziaur Rahman.

CPD Research director Fahmida Khatun and Dhaka University professor M Abu Eusuf made two separate presentations on the topic.

A number of industrialists alleged that the Bangladesh Bank has introduced a ‘green fund’ for green industries, but they are not getting any benefit from it because of wrong process and policies.

The Finance Minister said the green industry could not be defined yet although everybody is talking about it.

Industrialists, he said, are seeking a government role in creating various scopes for industries for the disposal of their effluents. But the government needs more revenue to create such facilities. ‘Unless the industrialists pay more taxes, it's not possible to create these facilities.’

He said the zoning in industrialization has been another important issue for green industries and sustainable growth because of our scarcity of land. ‘If industries are set up in a zone and then effluent treatment facilities could be created by the government for 40-50 industries in a combined manner.

Atiq Rahman said the green industry idea is gaining ground fast and Bangladesh cannot lag behind in this regard.

Kudubuddin Ahmed said he has set up a green textile industry which has been unique in Bangladesh. But he had to make a huge capital investment in the initial stage. ‘Now I’m getting optimum benefits from it as my electricity consumption has come down by 50 percent.’

As the buyers are not giving any incentive for such a project, she said, the government should provide incentives to promote these industries.

Munawar Moin said the mindset of the public sector has to be changed to promote green industries.

Referring to a study of Sustainable and Renewable Energy Development Authority (SREDA), he said about 1000 MW of electricity could easily be produced from rooftop solar in Dhaka city alone.

‘More electricity could be generated if rooftops of industries are used for solar power generation,’ he added.